CHANDLER, Ariz. — Bashas' here said a bankruptcy judge will hear oral arguments this week before deciding whether to confirm the chain's amended reorganization plan.
The company and the unsecured creditors committee, which supports the plan, and representatives of the secured creditors, who do not, presented arguments to the judge late last month.
In a letter to employees, Edward N. Basha 3rd, senior vice president, said he believes the chain presented “a compelling case in support of our plan. The consensus from our attorneys, vendors and members of the official committee of unsecured creditors is that the hearing went well for Bashas'.
“We continue to be optimistic and believe we may get a decision by the end of August. If the judge accepts our plan, we would officially emerge from bankruptcy shortly thereafter.”
Bashas' has been operating under Chapter 11 bankruptcy protection since June 2009.
